NEW YORK ( TheStreet) -- Shares of Multiband Corporation (Nasdaq: MBND) have taken a tremendous swing upward. The stock is trading at $3.46 as of 3:31 p.m. ET, 26.3% above Wednesday's closing price of $2.74. Volume is at 412,212, 2.9 times the daily average of 140,600.

Multiband has a market cap of $60.7 million and is part of the technology sector and telecommunications industry. Shares are down 3.5% year to date as of the close of trading on Wednesday.

Multiband Corporation and its subsidiaries engage in the provision of voice, data, and video services to multi-dwelling unit and single family home customers in the United States. The company operates in two segments, Home Service Provider (HSP) and Multi-Dwelling Unit (MDU). The company has a P/E ratio of 2.8, equal to the average telecommunications industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Multiband as a hold. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and notable return on equity. However, as a counter to these strengths, we also find weaknesses including generally poor debt management and poor profit margins. You can view the full Multiband Ratings Report.

See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center.

Interested in other stocks that are soaring? Get free SMS text alerts sent to you when the action happens by texting SOAR to 95370 or select from multiple alert options.